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Bill
Bill, Enrolled Agent
Category: Tax
Satisfied Customers: 3152
Experience:  EA, CEBS - 35 years experience providing financial advice
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I was given a $1000 gift in 2009 from a friend. Do I need to

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I was given a $1000 gift in 2009 from a friend. Do I need to report that income on my taxes, and if so, how do i classify it?
No, you will not have to report it nor will you have to pay tax on it. Gifts are never taxable to the recipients.
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